Gold price down to Kuwaity dinar 393.9 in local market

The price of gold in domestic transactions went down to KD 393.9 per ounce Tuesday, compared to Monday's figure of KD 394.6, the Ministry of Commerce and Industry reported. According to official figures, Gold of 24, 21 and 18 karats recorded KD 13. 1, KD 11.5, and KD 9.9, respectively. The selling price of one kilo of gold reached KD 12,664. Gold was traded in a narrow range in the global market for the second consecutive day after uncertainty spread in regards the US federal bank's withdraw or halt of its quantitative stimulus policy. The federal bank's quantitative ease and stimulus polices approach during recent global recession helped in the increase of the gold price within the past three years, reaching USD 1,920 per ounce.